Red start on Wall Street with the major overseas indexes starting trading below par.
Featured book: Financial Statement Analysis and Security Valuation PDF Kindle edition
The Nasdaq index is currently at 11,425 points, down 0.95 percent, while the worst performer is the S&P 500, which retreats 1.23 percent to 3,850 points.
U.S. and non-U.S. traders are looking forward to tomorrow's Fed meeting where the Powell-led institution will most likely announce a 75-basis-point benchmark rate hike for the third consecutive time.
Returning to Wall Street, among the worst stocks are Ford, which is down more than 10 percent after releasing lower-than-expected forecasts for the third quarter 2022 while confirming full-year guidance and analysts are concerned about the impact of higher costs.
Featured book: Read people like a book PDF Kindle edition
Strong weakness also for Nike, which gives up 4 percent after analysts at Barclays lowered its rating from "overweight" to "equal weight" due to a number of concerns for the company on upcoming earnings.
In contrast, among the best performers is Cognex, which jumps more than 5 percent after raising third-quarter earnings estimates.
Meanwhile, turbulence continues in the bond market with the yield on the 10-year U.S. bond rising to 3.58 percent, while the two-year yield is up to 3.97 percent, at the highest since 2007.
To conclude, the major euro/dollar cross is currently at 0.9982, while the Vix rises 5 percent signaling some investor concern about the current situation.